SecondSpace loses partner, cuts staff

SecondSpace, the Bellevue startup that helps people find vacation homes and land through the ResortScape.com and LandWatch.com Web sites, cut employees this week after a partnership fell apart.

Eight of the company’s 54 employees have been let go.

On Friday, the company issued this statement:

SecondSpace had a business partnership in place with an undisclosed company. As a result, the company staffed a team against this opportunity with a revenue sharing arrangement in place. The partner pulled out of the deal due to strategic shifts in its business, so we have redeployed some of the team members affected while working with others to transition out of the company over the next few weeks. SecondSpace’s core business of providing premium services to real estate developers, brokers and agents on a global basis remains extremely healthy and the company continues to exhibit significant growth in traffic, leads and revenues.

The company, led by former Classmates.com executive Anil Pereira and backed by Ignition Partners, declined further comment.

In a story last summer, I noted that it was unusual that the secretive startup was already driving more than $1 million in revenue.